Virat Kohli-backed Go Digit plans IPO launch next week: Key details

Go Digit General Insurance will launch its initial public offering (IPO) next week. The company may launch the IPO on May 15. The issue price will be announced on May 10 and the anchor book will be opened on May 14. The new annuity insurance company is backed by Prem Watsa's Fairfax group. Through the IPO, the company plans to raise INR 1,500 crore through a share purchase of INR 1,250 crore and an offer-for-purchase (OFS) of up to 10.94 crore equity shares aggregating up to INR 250 crore by its promoter and. existing shareholders.

Details of Go Digit IPO Company 

Go Digit General Insurance has a wide range of insurance products including motor, health, travel, property and marine insurance. The company was acquired by Sebi in March 2024 to start its IPO after many delays.

Virat Kohli and Anushka Sharma both have shares in the company. During February 2020, Virat Kohli purchased 2,66,667 equity shares for INR 75 each with an investment of INR 2 crore, while Anushka Sharma acquired 66,667 shares at the same price.

Here's what we know so far about the Go Digit IPO

The lead managers running the IPO book are ICICI Securities, Morgan Stanley India, Axis Capital, HDFC Bank, Edelweiss Financial Services and IIFL Securities. Link Intime India has been appointed as underwriter for the issue and the company's shares will be listed on the BSE and NSE.

FAQs

Q. Should I invest in go digit ipo?

A. It is one of the fastest-growing insurers in the market. It is in the top 10 private general insurers by GWP. The company hold a GWP of INR 52.68 billion, INR 32.43 billion, and INR 22.52 billion in 2022, 2021, and 2020. They hold a strong position in the solvency ratio of 2.01 times as of March 31, 2022.

Q.Is One 8 owned by Virat Kohli?

A. Yes, Kohli owns One8. It is a sportswear brand that has now slowly diversified into a chain of restaurants named One8 Commune.

Q. How many companies does Virat Kohli have?

A. Virat Kohli: Renowned as one of the finest batsmen in cricket history, Virat Kohli has extended his success to business ventures. Kohli has made strategic investments in startups such as Rage Coffee, the fitness centre Chisel, menswear brand WROGN and Blue Tribe, alongside his wife, Anushka Sharma.

Q. Is go digit profitable?

A. The company reported a net profit of Rs 107 crore for the nine months ending December 2023, which is compared to Rs 10 crore for the same period last year. The company had a gross written premium o Rs 7317 crore as of December 2023.

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